The prices of cryptocurrencies Bitcoin, Dogecoin and Ethereum all slumped today as financial watchdogs get tough on the digital coins.
Last night the value of Bitcoin, the biggest cryptocurrency, was $35,948 (£25,967.22). It has since fallen 6.7% to around $33,525 now.
The price of second-largest cryptocurrency Ethereum fell 4.5% to $2,212, while its high-profile rival Dogecoin fell by 6.5% to $0.23.
Bitcoin prices are falling for two main reasons, according to Laith Khalaf, financial analyst at AJ Bell.
Firstly, regulators around the world are getting tough on the digital currencies.
Last week China launched a major attack on cryptocurrencies, with vice-premier Liu Hu saying the country would "crack down on bitcoin mining and trading" .
The country's central bank put out a statement saying no Chinese financial companies should have anything to do with cryptocurrencies.
This is a big blow to Bitcoin, as around 75% of its coins are mined in China.
Bitcoin mining is the process by which new bitcoin are created and entered into circulation. It is done by computers solving complicated puzzles, and takes huge amounts of power.
Last week the UK's Financial Conduct Authority (FCA) watchdog banned the world's biggest cryptocurrency exchange, Binance.
The second big reason for the price drop is that Bitcoin is still suffering from electric car maker Tesla abandoning decisions to take payment in the currency.
In February Tesla said it would accept Bitcoin. The company's shares hit a record high of $64,000 in April, before Tesla did a U-turn in May for environmental reasons.
Since then Bitcoin prices have ranged from around $30,000 to $40,000.
Cryptocurrency prices have become linked to statements made by Tesla chief executive Elon Musk, who is a fan of the digital coins.
Why are other cryptocurrency prices falling?
What happens to Bitcoin tends to be repeated with other, smaller cryptocurrencies.
Its popularity spawned many imitators, and there are now more than 4,000 digital coin alternatives.
Khalaf added: "If Bitcoin suffers, that's the bellwether for crypto more generally."
What are the risks of investing in cryptocurrencies?
But cryptocurrency is not regulated in the UK, unlike most other financial products.
The Financial Conduct Authority (FCA) watchdog does monitor crypto, but only to prevent money laundering or funding terrorism.
That means if you put money into anything to do with crypto and lose it you will probably never see it again.
Many other financial deals are regulated by the FCA, meaning your money is protected up to £85,000 if the company goes bust or your money is stolen somehow.
This is thanks to the Financial Services Compensation Scheme (FSCS), a fund financial firms pay in to.
You can check on the FCA or FSCS websites to see if a company you are interested in is regulated and safe to deal with.
Last month the Mirror reported that two Bitcoin traders vanished , along with £2.59billion worth of the cryptocurrency held on their investment website.
South African brothers Raees and Ameer Cajee, set up crypto investing platform Africrypt in 2019.
